Vietnam: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in Vietnam

In 2021, after two years of decline, there was significant growth in the Vietnamese food manufacture machinery market, when its value increased by 54% to $X. Overall, consumption saw resilient growth. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Food Manufacture Machinery Exports

Exports from Vietnam

In 2021, shipments abroad of machinery for the preparation or manufacture of food or drink decreased by -12.5% to X units, falling for the second consecutive year after three years of growth. Overall, exports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of 590%. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, food manufacture machinery exports declined rapidly to $X in 2021. Over the period under review, exports, however, showed a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 656%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

India (X units) was the main destination for food manufacture machinery exports from Vietnam, accounting for a 45% share of total exports. Moreover, food manufacture machinery exports to India exceeded the volume sent to the second major destination, Panama (X units), sevenfold. Thailand (X units) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume to India totaled +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+248.6% per year) and Thailand (+20.7% per year).

In value terms, India ($X) remains the key foreign market for machinery for the preparation or manufacture of food or drink exports from Vietnam, comprising 43% of total exports. The second position in the ranking was taken by Panama ($X), with a 6.5% share of total exports. It was followed by Thailand, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value to India totaled +19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+234.8% per year) and Thailand (+24.4% per year).

Export Prices by Country

The average food manufacture machinery export price stood at $X per unit in 2021, dropping by -17.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2013 an increase of 11% against the previous year. The export price peaked at $X per unit in 2020, and then shrank dramatically in the following year.

Average prices varied noticeably for the major overseas markets. In 2021, the countries with the highest prices were Cote d'Ivoire ($X per unit) and Lao People's Democratic Republic ($X per unit), while the average price for exports to China ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Food Manufacture Machinery Imports

Imports into Vietnam

In 2021, overseas purchases of machinery for the preparation or manufacture of food or drink were finally on the rise to reach X units for the first time since 2016, thus ending a four-year declining trend. Overall, imports continue to indicate pronounced growth. The growth pace was the most rapid in 2016 with an increase of 115%. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, food manufacture machinery imports soared to $X in 2021. Over the period under review, imports showed resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 114%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Germany (X units) and the United States (X units) were the main suppliers of food manufacture machinery imports to Vietnam, with a combined 49% share of total imports. These countries were followed by Japan, France, South Korea, Denmark, Taiwan (Chinese), Italy, Austria, India, Sweden and Singapore, which together accounted for a further 47%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +172.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest food manufacture machinery suppliers to Vietnam were China ($X), Germany ($X) and the United States ($X), together comprising 49% of total imports. Japan, France, South Korea, Denmark, Taiwan (Chinese), Italy, Austria, India, Sweden and Singapore lagged somewhat behind, together comprising a further 47%.

In terms of the main suppliers, Austria, with a CAGR of +175.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average food manufacture machinery import price stood at $X per unit in 2021, stabilizing at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.2%. The pace of growth was the most pronounced in 2014 an increase of 32%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from India ($X per unit) and the United States ($X per unit), while the price for Singapore ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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